Identify the type of accounts that would appear on a firm's income statement
A)liabilities and expenses.
B)assets and revenues.
C)assets and liabilities.
D)revenues and expenses.

Question

Quizplus · Accepted Answer

The income statement reports a firm's revenues and expenses, so D is the correct choice. Liabilities and assets are reported on the balance sheet, while expenses and revenues are reported on the income statement.

Identify the Type of Accounts That Would Appear on a Firm's